Policymakers in the federal government view economic stabilization as one of
their primary responsibilities. The analysis of macroeconomic policy is a regular
duty of the Council of Economic Advisers, the Congressional Budget Of
fice, the Federal Reserve, and other government agencies. When Congress or the presi-dent is considering a major change in fiscal policy, or when the Federal Reserve is considering a major change in monetary policy, foremost in the discussion are how the change will influence inflation and unemployment and whether aggre-gate demand needs to be stimulated or restrained.